Here’s Why Investors are Going Crazy for Snap Inc (NYSE: SNAP)

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Snap Inc (NYSE: SNAP) stock is making moves after investment firm RBC Capital Markets’ analyst Mark Mahaney said in a note to investors that the fundamentals of the social media company are continuously improving. Mahaney said that further return to growth amid an increase in daily active users at Snap could result in more revenue growth. The analyst sees a lot of potential in Snap stock amid ongoing gross margin expansion and operating loss reduction. He said that the stock is at a “positive inflection point.” Last year, Snap introduced several changes to its Android app interface. Mahaney said that those changes are finally getting traction.

RBC’s analyst also upgraded Snap stock to $17 from $10.

Snap Inc (NYSE: SNAP)  stock has been surging massively this year. The stock value increased by a whopping 100% in 2019, as compared the Invesco QQQ Trust — an ETF that tracks the biggest stocks in the tech-heavy Nasdaq 100 — which is up just by 19.7% in 2019.

Investment firm Piper Jaffray’s Craig Johnson is also seeing a “Buy” signal based on his technical analysis of Snap stock.

Snap Inc (NYSE: SNAP) is doing a lot of things which are garnering the attention of advertisers. The company recently announced a new ad-supported gaming platform. The company launched 9 games that will run exclusively on its chat app. Snapchat users will be able to play games directly in the platform. The company recently also revealed non-skippable six-second video ads, which will let the company charge higher ad rates.

IF YOU HAD FOLLOWED JAY SOLOFF’S 2018 TRADES, WITH A LITTLE LUCK, YOU COULD’VE TURNED $500 INTO AS MUCH AS $678,906.

Last month, a long-time Snap bear, BTIG, upgraded the stock to Buy. The investment firm’s analyst Richard Greenfield said in his comment that he is confident that advertisers are now taking big advantage of Snap’s low relative bid prices. The analyst added that on the Snapchat app, performance advertising could scale rapidly enabling meaningful revenue beats.

2018 was a year of transition for Snap Inc (NYSE: SNAP) stock, and the company was quick to materialize its efforts into meaningful results. JMP Securities analyst Ron Josey said that Snap is in a much better position that it was a year ago. Josey is also impressed with Snap’s increased reach and its continued innovations in augmented reality and direct messaging.

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The author does not have an investment in stock discussed in this article.

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